E.B. Creasy & Company PLC announced that the board of directors have resolved on May 11,2021 to purchase the property situated at Gonawala, Sapugaskanda (Depicted in Plan as Alubogahawatta and Batadombagahawatta) containing a total extent of A5-R1-P27.90 from related company Lankem Ceylon PLC for a total consideration of LKR 600 million for expansion of production facilities and also to mitigate the operational risks by setting up additional production lines at a separate location and develop the company' s own storage facilities.